Press Release

Jefferies Group, Inc. Announces Commencement of Public Offering of $500 Million of Common Stock

NEW YORK and LONDON, April 7, 2011 -- Jefferies Group, Inc. (NYSE: JEF) announced today that it is commencing an underwritten public offering of $500 million of the Corporation's common stock.

The offering is being underwritten by Jefferies & Company, Inc., the broker-dealer subsidiary of Jefferies Group, Inc.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor does it constitute an offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from Jefferies Customer Reporting Group at 34 Exchange Place, Plaza 3, Suite 705, Jersey City, NJ 07311 (201) 761-7610.

Jefferies Group, Inc. (NYSE: JEF), a global securities and investment banking firm, has served companies and investors for nearly 50 years.